What age did you retire and how much did you have?

[rumak]

16 hours ago, villagefarang said:

I am one of those Apple guys.  I bought Apple on one of its many pullbacks because I like Apple products.  Over the years I mainly bought things I knew, like a company where one uncle was CEO.  I learned about buying stock from another uncle who was a stockbroker and I only moved to a different online brokerage after he retired.  I tried to stay diversified and seldom had more than ten thousand in any one stock and tended to buy and hold.  Apple through the portfolio out of balance, but in a good way, and I resisted persistent warnings from friends to sell.  I have never been very good at listening to others and have always made my own decisions.

 

Reportedly my first savings account was opened when I was four months old with a thirteen dollar contribution from my mother’s bridge club.  I saved every birthday and Xmas gift as a child.   Over the years it grew.  I don't remember when it happened exactly but at some point it felt better having money and watching it grow than it felt spending it.  It gave me a sense of freedom.  You wouldn't know it now but I had a hard time learning how to spend in my later years.????

I know that I made much less than most of the people from western countries.  I too was a saver and lived simply, but well enough.   Never borrowed or paid interest on anything.  I never hit the jackpot but did manage to live free all of my years after 30.  The one thing i would change is next life I will choose to be born to wealthy parents that leave it all to me.  

And yes, like VF  it took me a while to stop saving every baht and just enjoy the fruits of our labors.

 

[BritManToo]

18 minutes ago, rumak said:

I know that I made much less than most of the people from western countries.  I too was a saver and lived simply, but well enough.   Never borrowed or paid interest on anything.  I never hit the jackpot but did manage to live free all of my years after 30.  The one thing i would change is next life I will choose to be born to wealthy parents that leave it all to me.  

Same as me but I lost a lot of those savings to my English wife.

If I were to do it again, I would do it as a homosexual, my best mate and I lost 4 houses and 20,000 pounds a year to our former wives. If I'd married him, we'd both be rolling in money and property now.

[rumak]

45 minutes ago, BritManToo said:

Same as me but I lost a lot of those savings to my English wife.

If I were to do it again, I would do it as a homosexual, my best mate and I lost 4 houses and 20,000 pounds a year to our former wives. If I'd married him, we'd both be rolling in money and property now.

And that is why we give that very prudent advice to all that will listen:   Don't get married !  It is not a

contract that is favorable to the one who brings more money to the union .  

 

[BritManToo]

26 minutes ago, rumak said:

And that is why we give that very prudent advice to all that will listen:   Don't get married !  It is not a

contract that is favorable to the one who brings more money to the union .  

 

It's not favourable to the man, who is nearly always the main earner, asset owner.

Never met one woman that lost out in a divorce.

[marko kok prong]

Retired at 47,but involved in gold prospecting in New Guinea,hellish but eventually paid off,have steady income from investments monthly varies of course ,have a lump sum of money,also invested but can access easy,have fair bit in two Thai banks,now 54,don't think i have to worry to much about financial stuff,if only my personal life was as smooth but heck you can't have everything,and i have come to the conclusion that it is not worth worrying about,i am now trying to model myself on the Dude from the Big Lebowski and just take things as they come. I realise i am somewhat fortuitous to be in this position,but i can tell you those New guinea trip's were damned hard,and dangerous and extremely uncomfortable.

[wwest5829]

On 12/25/2018 at 11:18 AM, Ahab said:

Retired here at 54 years of age, two years ago, on a US Navy military pension (24 years). I will receive additional pensions when I turn 62 years of age. Currently plenty to live a very comfortable lifestyle in rural Thailand. We also bought our house (wife's house), and a truck (my truck) with cash. Our monthly bills here are about 2000 baht for electricity ($63 USD), 700 baht for internet ($22 USD), and 200 baht for water ($6 USD), fuel for the truck varies but is less than $100 USD per month, and about 6000 baht ($188 USD for health insurance). No debt, life is good.

Had I to do over, I would have followed your path. On the other hand, the nation also needs educators. Unfortunately, not paid too much so...retired here at 64 1/2 in 2011. Living on $1254.00 Social Security and an equal amount drawn on savings/invested retirement. $2400 a month will not cut it in the states for a sustained retirement but does fine here. Again, unfortunately, my Medicare, unlike your Veteran's Tricare will not cover me here. Financially, can carry on in perpetuity.

[1FinickyOne]

are you asking the right questions. how much can he earn off that money. what income does he have... just spending down a principle does not sound like a road to security. not with that little. 

[Wake Up]

Retired at age 55 and have enough money to not work again in Thailand. As long as I don’t marry another western woman I will be good for life.  If I do then I will die broke for allowing my assets to be taken by a court and her greedy expensive lawyers. 

 

True story. Know an Aussie who has been in BKK and Hua Hin about 90 days. He retired at 53 this year. He already bought a diamond ring, house in Khon Kaen and car for a working girl. He did not plan on those expenses and he probably won’t last long time. But the Isaan economy for her family is booming.  ????????????????????????????

[eng911]

If he can average 4% return on his money he could withdraw about 70,000 THB per month and his money will last about 16 years. This includes a 2% raise for himself yearly.  This is before any taxes. 

[Sumarianson]

Not enough money. It is easy to spend 1.5 MB a year without doing much and only going out occasionally. Unless you can live and eat like a Thai, in which case you have loads.

[Surasak]

Retired at 65 2006. I started out with nothing and there's still a whole sh!t load of it left. I have pensions which are index linked but I don't touch them. 6 of us live off the business we started 9 years ago, which is enough, thank you.

[rumak]

On 12/26/2018 at 10:16 AM, worgeordie said:

I had up to 18 % at one point,the good old days.

regards Worgeordie

my memory is not as good as yours..lol     i do remember 13% but was being conservative.   Unfortunately I did panic a bit with the "crisis"  and sold (baht) instead of bought.   Guess i'm not so brave with the "buy when there is blood in the streets"  theory.    I did buy some property when things collapsed (in texas)

And i think we both know that real estate here was a good investment too.   Not as easy nowadays to find a good renter.   I have learned one thing from listing a property online.......the chinese really are here in force !

[maprao]

On 12/25/2018 at 7:03 AM, KiChakayan said:

Going through this I can't help thinking about some other threads on income letters and compulsory health insurance. The more i read the more I can understand that the Thai authorities are getting restless about a large group foreigner who have put themselves in a potentially difficult situation.

As far as I am concerned I came at 62, when eligible for a full pension of about 2.7M a year with about 15M, half of which has be spent on a nice house. I also have a "no limit" health coverage for me and my elder daughter. And all this doesn't make feel like I and my family were 100% safe.

I'm looking to advise my son on possible careers. I would like to recommended yours. Pray tell what was your profession? (Genuinely curious)

 

Pension 2 times the average gross UK salary.  

 

I have final salary pension scheme and can't dream of those figures.

 

There are far better safer places to retire for you. Clean beaches good infrastructure...Marbella would be my choice. 

[rumak]

7 minutes ago, maprao said:

I'm looking to advise my son on possible careers. I would like to recommended yours. Pray tell what was your profession? (Genuinely curious)

 

Pension 2 times the average gross UK salary.  

 

I have final salary pension scheme and can't dream of those figures.

 

There are far better safer places to retire for you. Clean beaches good infrastructure...Marbella would be my choice. 

I don't know the answer....... but I have a Swiss friend that when he worked got 6 weeks vacation a year,

And when he retired the monthly pension was extremely generous.   So along with wanting to be born to wealthy parents next life....I want to be born in Switzerland (just as a back-up plan)

Edited December 28, 2018 by rumak

[unamazedloso]

retired here at 30.

[maprao]

6 minutes ago, rumak said:

I don't know the answer....... but I have a Swiss friend that when he worked got 6 weeks vacation a year,

And when he retired the monthly pension was extremely generous.   So along with wanting to be born to wealthy parents next life....I want to be born in Switzerland (just as a back-up plan)

2 7 Mlion park $83,000 USD pension per annum Is generous indeed

[Jip99]

13 minutes ago, maprao said:

I'm looking to advise my son on possible careers. I would like to recommended yours. Pray tell what was your profession? (Genuinely curious)

 

Pension 2 times the average gross UK salary.  

 

I have final salary pension scheme and can't dream of those figures.

 

There are far better safer places to retire for you. Clean beaches good infrastructure...Marbella would be my choice. 

 

3 minutes ago, unamazedloso said:

retired here at 30.

 

Nobody retires at 30.

 

Tney might be financially secure and then occupy themselves in some other way - retirement does not apply at 30.

[Spidey]

12 minutes ago, maprao said:

There are far better safer places to retire for you. Clean beaches good infrastructure...Marbella would be my choice. 

A friend of mine has lived in Puerto Banus for many years. Has often tried to encourage me to retire there too. Did the calculations and could quite easily afford to live there, cost of living not much different to here. I chose Thailand.

[rumak]

11 minutes ago, maprao said:

There are far better safer places to retire for you. Clean beaches good infrastructure...Marbella would be my choice. 

"better places" is a very subjective thing .   i do hope everyone understands that.   Same as what traits one finds "beautiful" in a woman.   So while YOU might choose Marbella (which looks quite nice and I am sure has no ugly soi dogs or horrible this and that......

I think i will stay here .  Not a bad place, really .

[Jip99]

16 minutes ago, maprao said:

I'm looking to advise my son on possible careers. I would like to recommended yours. Pray tell what was your profession? (Genuinely curious)

 

Pension 2 times the average gross UK salary.  

 

I have final salary pension scheme and can't dream of those figures.

 

There are far better safer places to retire for you. Clean beaches good infrastructure...Marbella would be my choice. 

 

 

 Schoolboy error.... 

 

 

 

Don’t throw fuel on a pissing competition.

[Jonathan Swift]

You could consider me semi retired or almost retired, 62 years old, but more like my profession as a rock and roll piano bar type entertainer evaporated in the US, hence my coming to Thailand to live on my Social Security Disability income of $1300 US, 43,000 baht a month; plus a mutual fund dividend of $400 a month, 13,200 baht. This is supplemented by income generated in the US selling antiques and collectibles during my brief returns there. My original plan did not include the mutual fund or a nest egg/savings, and would have worked without much of an emergency cash reserve, but due to a fire in my US house and a top notch lawyer I got a $150,000 windfall which is now in the mutual fund to generate the dividend. I have not permanently stopped performing nor do I intend to stop my other artistic vocations, I just have to acclimate here a little more to establish those things. I'm waiting for my retirement visa to be processed having submitted a verification letter "optimized" to fit the income requirements. As it stands, I still live spending significantly less than my actual Social Security income, extremely low cost of living in my Bangkok apartment in Makkasan near Victory Monument, no debt, credit cards, or car payments. I have no intention of moving any funds out of my mutual fund to use the savings as a retirement qualifier, I can easily come up with whatever income proof I need - I'm very good at creative "optimization". I'm also very good at living frugally, having lived  on fluctuating  music business income for decades. Incidentally, the immigration office in Bangkok got EXTREMELY anal over verification of my residency status, and even sent a couple officers to my apartment to interview and photograph the staff and me in and outside the high rise. But, this being Thailand and full of the unexpected, They sent a couple BEAUTIFUL Thai lady "immigration police" to do the job. I charmed the pants off them by serenading them with my guitar/vocal performance of a rolling stones song, she insisted on a photo with "big American Music Star (yes I'm very good) and afterward I was going "what just happened?"

Edited December 28, 2018 by Jonathan Swift
more

[Hummin]

How many of you have disability pension? Got insurance money, and so on. I guess thats most of the early pensioneres got in Thailand. 

Edited December 28, 2018 by Hummin

[rumak]

5 minutes ago, maprao said:

2 7 Mlion park $83,000 USD pension per annum Is generous indeed

I am pretty curious what his "profession" was myself..    HMMM   Govt ?  4 star general ?   exxon ceo ?

[Jonathan Swift]

4 minutes ago, Hummin said:

How many of you have disability pension? Got insurance money, and so on. I guess thats most of the early pensioneres got in Thailand. 

I have US disability social security of $1300 / 43000 baht a month. My disability is Bipolar Disorder II for which I take meds. They're literally paying me for being nuts, haha. 5555. I also got an unexpected windfall from a fire insurance claim, didn't put it into the house and instead put it into a dividend paying mutual fund, paying about $400 a month, about 13,000 baht

[Jonathan Swift]

9 minutes ago, rumak said:

"better places" is a very subjective thing .   i do hope everyone understands that.   Same as what traits one finds "beautiful" in a woman.   So while YOU might choose Marbella (which looks quite nice and I am sure has no ugly soi dogs or horrible this and that......

I think i will stay here .  Not a bad place, really .

There are a LOT of very happy retired folks here, I mean they're literally everywhere. 

[Spidey]

5 minutes ago, rumak said:

I am pretty curious what his "profession" was myself..    HMMM   Govt ?  4 star general ?   exxon ceo ?

A work colleage of mine, many tears ago, took a job at the CERN project. His salary/pension exceeds that.

[rumak]

Just now, Jonathan Swift said:

There are a LOT of very happy retired folks here, I mean they're literally everywhere. 

well,  wait till that other half of your POLAR wakes up.......

 

 

[rumak]

15 minutes ago, Jonathan Swift said:

due to a fire in my US house and a top notch lawyer I got a $150,000 windfall

So THAT"S  what they meant when they said your guitar playing set the house on fire !

[Kolantaman]

Been traveling and staying in Thailand since 2004. Retire in 2.5 years with full medical coverage in USA only.

Pension will be 3.8 million baht per year, minus USA taxes it drops to 2.9 million baht/year clear. Plus have 32.2 million baht cash. Other cash stays in USA as backup and in case Thailand just doesnt work out. 

 

North and south are so inexpensive to live in. Depends on your lifestyle ......just make sure you have cash, brokerage accounts, in your country as a backup.

 

Use a reputable Thai bank and aet up an account.

 

Can live reasonably well on 1.2 million baht a year.......

 

 

[maprao]

I feel such honor being among such financially versed individuals....me I reckon most westerners fall in this category

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